The Dow Jones Industrial Average slid 14.05 points, or 0.1%, to 13881.93, halting its six-session streak of gains. The Standard & Poor's 500-stock index declined 2.78 points, or 0.2%, to 1500.18, snapping its own streak of eight straight moves higher. Both indexes ended Friday at their highest levels since 2007.

"We're a little bit concerned that there's just so much positive sentiment building. Usually, that demands some sort of hiccup that at least gets people thinking," said Bruce McCain, chief investment strategist at Key Private Bank.

Materials stocks like Alcoa,AA-1.10% which declined 13 cents, or 1.4%, to $8.90, were the worst performers on the S&P 500. Technology stocks, which have recently lagged behind the broader market, bucked the trend and pushed higher.

The Nasdaq Composite Index rose 4.59 points, or 0.1%, to 3154.30. AppleAAPL-0.87% gained 9.95, or 2.3%, to 449.83, to reclaim the title as the world's largest company by stock-market value. On Friday, Exxon MobilXOM-4.58% retook the top slot on the leaderboard, but its shares fell on Monday. Apple's market capitalization stood at $422 billion versus Exxon's roughly $415 billion. Exxon slid 62 cents, or 0.7%, to 91.11.

ENLARGE

Bloomberg News

CaterpillarCAT0.36% rose 1.87, or 2%, to 97.45, after the heavy machinery maker voiced cautious optimism about recent improvements in economic indicators even after posting a 55% decline in quarterly earnings on Monday.

Roughly one-third of S&P 500 components had reported quarterly earnings by Monday, and about two-thirds of those have topped analyst expectations, according to S&P Capital IQ.

"Earnings have been a bit higher than people thought, but there are concerns about sources of growth going forward. For the next stage higher, people want to see the growth," said Paul Zemsky, chief investment officer of multiasset strategies at ING U.S. Investment Management.

On the economic front, orders for durable goods, or products designed to last at least three years, rose more than expected in December from the prior month, the Commerce Department said. Separately, business activity among Texas-area manufacturers rose in January, lifted by new orders and more output, according to a report from the Federal Reserve Bank of Dallas.

But U.S. home buyers signing contracts to purchase previously owned properties fell in December, versus expectations for a rise. December's figure remained well above readings of a year ago.

Most European markets inched lower, with the Stoxx Europe 600 falling 0.1% to snap a three-session win streak. The U.K.'s FTSE 100 rose 0.2%, to close at another multiyear high.

In the Markets

Asian markets were mostly higher. China's Shanghai Composite Index surged 2.4%, while Hong Kong's Hang Seng Index rose 0.4%, ending at a 21-month high. Japan's Nikkei Stock Average was among the few decliners, falling 0.9% after surging 4.9% over the previous two days.

Crude-oil prices rose 0.6%, to settle at $96.44 a barrel, while gold fell 0.2%, to settle at $1,652.40 a troy ounce. The dollar rose against the euro but fell against the yen. The yield on the 10-year Treasury note rose to 1.976%, the highest since April, as prices fell.

In other corporate news, PetSmart slid 6.35, or 9.1%, to 63.63, making it the biggest decliner on the S&P 500, after analysts at Nomura lowered their stock rating and cut their price target. The firm noted concerns that the pet food and supplies retailer could lose competitiveness to online players like Amazon.com,AMZN-0.11% which fell 7.95, or 2.8%, to 276.04.

FacebookFB-1.26% rose 93 cents, or 3%, to 32.47. The stock benefited from a stock-ratings upgrade by analysts at Raymond James, which noted rising expectations for the social-networking company's mobile-ad revenue.

HessHES-2.19% climbed 3.58, or 6.1%, to 62.48, after the oil company said it is seeking to sell its U.S. terminal network and complete its exit from the refining business by the end of February. The company also said on Monday that hedge fund Elliot Associates is looking to buy about $800 million in shares and secure seats on the company's board.

Jos. A. Bank Clothiers plunged 6.99, or 15%, to 39.28, as the men's apparel retailer said fiscal 2012 earnings would be about 20% below the previous year's results, compared with analyst projections for growth.

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.